Cottage-Style Residential Income
For Sale
$328,000
Pending
600 Avenida Sevilla, Laguna Woods, CA 92637
MULTI_FAMILY - Cottage - Laguna Woods, CA
Property Size950 SF
Days on Market65
Property Features for 600 Avenida Sevilla
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Rooms
Kitchen, Bedroom 1, Bedroom 2, Laundry Room, Bathroom 1
Parking
1
Parking features
Covered, Guest, Carport, Assigned
Spa
1
Window features
Screens, Skylight(s)
Patio and Porch features
Patio
Interior features
Unfurnished
Appliances
Disposal, Electric Water Heater, Refrigerator, Electric Oven, Electric Cooktop
Subdivision
Leisure World (LW)
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
From Ave Sevilla, turn into CDS 12. The building is the first one on the left (sits over Ave Sevilla)
Standard status
Pending
Size
950 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Radiant
Cooling system
Window Unit(s), Wall/Window Unit(s), Electric
Water source
Public
Building Details
Year built
1966
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Architectural style
Cottage
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Donna Empfield · License #01386605
(949) 939-5747
Added: Jun 20
Changed: Aug 3
Last Checked: Aug 23 at 2:06PM
MLS# OC26136420
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This cottage-style residential income property has been updated with fresh paint, smooth ceilings, dual-pane windows, and new vinyl plank flooring throughout. A double door entry with glass inserts leads to a spacious vaulted living/dining area with access to an atrium that provides a second outdoor living area and additional natural light. The kitchen is maintained by the HOA and includes a south-facing window overlooking the patio. The home also offers a large bathroom with two vanities, a tub/shower combination, and a skylight, along with two bedrooms featuring ample closet space and large windows.
Set in a south-facing, elevated position, the property includes a private front patio area. The remarks note there is no sidewalk, which helps limit pedestrian foot traffic passing by.
The kitchen is HOA-maintained, and the bathroom includes a skylight. The layout connects indoor living spaces to outdoor areas through both the patio and the atrium.
Set in a south-facing, elevated position, the property includes a private front patio area. The remarks note there is no sidewalk, which helps limit pedestrian foot traffic passing by.
The kitchen is HOA-maintained, and the bathroom includes a skylight. The layout connects indoor living spaces to outdoor areas through both the patio and the atrium.
Key Highlights
- 1966‑built “Granada” cottage in a 55+ community with HOA‑maintained kitchen and south‑facing exposure
- Fresh interior updates include fresh paint, smooth ceilings, dual pane windows, and new vinyl plank flooring throughout
- Spacious vaulted living/dining area with access to an atrium for a second outdoor living area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,133
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$362,660
$362.7K
Cap Rate 7%
$259,043
$259.0K
Cap Rate 9%
$201,478
$201.5K
Market Conditions
NOI Build-Up for 950 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.2K $36.00/SF
− Vacancy
−$1.2K −$1.30/SF
EGI
$33.0K $34.70/SF
− OpEx
−$14.8K −$15.62/SF
NOI
$18.1K $19.09/SF
Area
Orange County, CA
Vacancy
3.60%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$362,660
Cap Rate 7%
$259,043
Cap Rate 9%
$201,478
Alternative Uses
Best Use
Apartment 5plus
$259.0K
$226.7K – $302.2K
NOI $18,133 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$319.1K
$279.2K – $372.3K
NOI $22,336 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 92637, CA
17,644
Population
13,494
Households
1.3
Avg Household Size
75
Median Age
52%
College-Educated
97%
High-School Grad
3.0 sq mi
ZIP Area
5,881
Density / Sq Mi
$60,235
Median Household Income
$40,375
Median Earnings
$2,232
Median Rent
$364,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Freshly updated cottage features dual-pane windows, new vinyl plank flooring, and a private front patio.
Where is this single family property located?
The property is located at 600 Avenida Sevilla Laguna Woods, CA.
What is the asking price?
The asking price for this property is $328,000.
What are key features of this property?
This property features: 1966‑built “Granada” cottage in a 55+ community with HOA‑maintained kitchen and south‑facing exposure; Fresh interior updates include fresh paint, smooth ceilings, dual pane windows, and new vinyl plank flooring throughout; Spacious vaulted living/dining area with access to an atrium for a second outdoor living area
